U.S debt 3 times higher than you think
Adam Pike, News Editor
11 Nov 2015, 12:15 p.m.
Former U.S. finance controller Dave Walker says the American public are being misled about the true size the of the countries debt. The countries official debt stands at $18.5 trillion which equates to $57,860 for every man women and child. However, when you include all the countries unfunded liabilities the real figure is closer to $65 trillion.
The former controller who headed the Government Accountability Office under both Bill Clinton and George Bush said the countries debt is unsustainable and Americans have lost touch with reality when it comes to credit and deficit spending.
According to Forbes magazine each U.S. taxpayer has a federal-debt liability of $1.1 million. Once you add on car loans, credit cards, mortgage debt, student debt it’s not difficult to conclude the situation is now beyond the point of return.